Famous cryptocurrency analyst Michaël van de Poppe highlighted positive market conditions as Bitcoin $93,722 trades above $70,000. He predicts that Bitcoin could increase in value by 10% to 38% by the end of the year. According to van de Poppe, Bitcoin may reach record levels within two to four weeks before year’s end, currently trading at $70,258, which is 4.7% below this year’s first-quarter peak of $73,800.
Ethereum’s Prospects: Surge Expected in November
Van de Poppe expects a rise not only for Bitcoin but also for Ethereum $3,094. He stated that Ethereum could increase by over 13% in November. If Ethereum maintains its support level around $2,300, it might surpass $3,000, presenting a significant target for traders.
Regarding the ETH/BTC pair, the analyst advised caution, noting a bearish signal on the daily chart. Should this signal be confirmed, the ETH/BTC pair could drop by 15% to a level of 0.031 BTC.
“Time to Celebrate Above $70,000”
Van de Poppe remarked that maintaining Bitcoin above $70,000 is a success worth celebrating. Currently, Ethereum trades at $2,522, having lost 5% in the last 24 hours. The analyst believes that Bitcoin is in a strong market position and preparing for new records.
Such insights in the cryptocurrency world offer valuable clues for traders. However, given the rapid changes in the crypto market, investment decisions should be assessed carefully.